An Attractive 10% Dividend Stock For Long-Term Investors
Rithm Capital (RITM) reported earnings on Friday, October 23. The 8% gain in shares that day indicates investors are starting to see what I have been preaching to my newsletter subscribers.
Rithm Capital is organized as a real estate investment trust (REIT). However, over the last four or five years, it has made numerous acquisitions, becoming more of an asset management company.
The company’s balance sheet businesses include a mortgage lender and servicer, a residential transition lender, and an owner-operator of 10 Class A office properties in New York City and San Francisco. While they are very diverse, these businesses can be viewed as REIT-type investments. These operating companies have $57 billion in assets.
Rithm also owns three alternative asset management businesses with $61 billion of assets under management.
